Under Ohio state law and Department of Taxation rules, real estate property is reappraised every six years. The county updates property values in the third year following each reappraisal. For many Franklin County residents, this reappraisal just happened. If you recently received a letter from the Franklin County Auditor, then your home value (and your property taxes) most likely went up.
Did you know you can challenge your property value in Franklin County?
You do have the right, and it is in your best interest, to review the appraisal and challenge the number if you feel it is incorrect.
There are over 430,000 properties in Franklin County alone. Historically, only 3% of homeowners ever challenge the appraisal. Therefore 97% of Franklin County home owners never challenge their new valuation.
An Informal Value Review is a forum meant to answer questions on the new property valuations. Property owners should come prepared with documentation regarding specific issues with their new assessments. Appraisers will take notes on the property owners’ concerns and specifics regarding their property. Each property that had an Informal Value Review will then be reviewed on an individual basis to determine if there is a change of value warranted. If you’re lucky, the value will be reassessed, which could save you hundreds (or even thousands) in annual property taxes.
Below are links to answer your questions in Franklin county, and provide the dates and times for a value review.
If you have any questions about re-valuing your home, please contact me at (614) 395-1776 or at info@alfriendgroup.com.